The Swedish automated medical documentation company has closed a Series B round led by EQT's Scaleup Europe Fund, bringing its total raised to $160 million.
Stockholm-based Tandem Health announced on September 14, 2026 a $100 million Series B round led by the Scaleup Europe Fund managed by EQT, with participation from its historical investors Kinnevik, Northzone, Amino Collective and Visionaries. The round brings the total raised to $160 million, following a Series A of $50 million in 2025. This is the first health deal for this fund, which already has Mistral and Iceye in its portfolio.
The current product is a medical assistant that supports the clinician throughout the entire care cycle: preparing summaries before the consultation, supporting decision-making during the consultation, and then automating documentation, coding and task management. The company claims to be deployed in more than 10,000 healthcare organizations, connected to more than 130 medical record systems, fourteen European offices, as well as three Class IIa medical device certifications under the European Regulation and ISO 27001, 13485 and 42001. Peer-reviewed research reports a 29% reduction in administrative time, and about 30% improvement in job satisfaction and reduced stress related to administrative tasks.
The funds are to be used to accelerate in Europe and expand the scope of the product: from the documentation assistant to what the company calls a clinic operating system, covering the patient journey, triage, planning and communication with patients.
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